Cipher Digital Reports Q3 2026 Revenue Growth and Significant Contracted Revenue Expansion
Cipher Digital (CIFR) reported third-quarter revenue of $27 million, a 5% increase from the previous quarter. The company achieved a GAAP net income of $32 million, though this was primarily driven by a $127 million non-cash gain on warrant liability rather than operational cash flow. Adjusted EBITDA improved to negative $10 million, up from a loss of $30 million in Q2. The company highlighted massive long-term growth potential with total contracted revenue reaching $16.6 billion over the next two decades across three data center campuses. A key driver was a lease amendment at the Barber Lake site, which extended the term to 20 years and increased its contracted revenue contribution by $5.2 billion. To support this expansion and future growth, Cipher Digital issued $850 million in 0% coupon convertible senior notes. Despite positive momentum, management noted headwinds including inflationary pressures on skilled labor and an evolving regulatory environment for data centers in Texas. The company maintains a robust development pipeline of 5.9 gigawatts, aiming for a total portfolio capacity of approximately 6.8 gigawatts.
Topics: capital investment contracted revenue convertible notes HPC leasing net income revenue growth
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